Why France nationalizes EDF

by time news

Emmanuel Macron had spoken about it, Elisabeth Borne announced it: the government wishes to renationalise EDF, its “nuclear giant which is encountering financial difficulties”, reports Bloomberg. With this measure, the only concrete one addressed on Wednesday July 5 during the Prime Minister’s general policy speech, Paris intends to increase its stake in the energy company from 84% today to 100%. An announcement that sparked an echo especially in the international economic press.

The objective of the operation, explains the American financial site: to help France “to pull out of Europe’s worst energy crisis in a generation and invest in new nuclear power plants” in order to strengthen its energy independence and achieve the ambition of zero fossil fuels. “The French project is also a sign that European states will undoubtedly be increasingly forced to come to the aid of their energy companies to protect them from the

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